Announcement of the Date for the Import Protection Law to Take Effect
On 1st July 2020, the Presidential Office announced that the Import Protection Law will take effect on 1st July 2021.
The main objective of this law is to protect domestic production against potential damages from an increased quantity of imports and to facilitate fair competition for the domestic producers.
To mitigate and remedy damages to the domestic producers, measures such as tariffs and import quotas will be implemented (where appropriate) in order to prevent the uncontrolled influx of imports.
Under this law, a new committee for Prevention of Increase in Quantity of Imports, led by the Union Minister of the Ministry of Commerce will be formed, to assess the extent of increase in import quantities and to determine appropriate remedies.
To read the full text of the law in Burmese click here.
To read the announcement in Burmese click here.